Want Want Expects to See Sales Improve in 2H; FVE Lifts to HKD 5.20 Due to Time Value of Money
Narrow-moat Want Want’s interim 2017 results came in line with our expectations, with revenue down 3.7% and operating profit down 13.5% from the year-ago period. As we expected, the short-term headwind of fewer peak season days due to the early arrival of Chinese New Year dragged down the top-line performance, particularly in the rice cracker business. The uncontrollable rising raw materials costs also weighed on the company’s profitability with gross margin retreating 3.3 percentage points from...Want Want China Holdings is an investment holding company. Through its subsidiaries, Co. is engaged in the manufacturing, distribution and sale of rice crackers, dairy products and beverages, snack foods and other products. Co.'s activities are primarily conducted in the People's Republic of China, Taiwan, Japan, Singapore and Hong Kong. Co. produces and markets its products under the Want Want brand. As of Dec 31 2014, Co.'s operations are mainly organized into four business segments, including manufacturing and sale of: rice crackers, dairy products and beverages, snack foods and other products.
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